Under the New Jersey Real Estate License Act, which of the following activities does NOT require a New Jersey real estate license?
Correct Answer
C) A licensed New Jersey attorney handling a real estate closing as part of legal representation of a client
Under N.J.S.A. 45:15-3, licensed New Jersey attorneys are specifically exempted from the real estate license requirement when performing real estate-related activities incidental to their legal practice, including handling closings and negotiating on behalf of clients. This is a statutory exemption that does not apply to non-attorneys performing the same activities.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
More Practice Of Real Estate Questions
In Wyoming real estate practice, an associate broker or salesperson is not associated with a responsible broker at renewal. What should the licensee remember?
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